The Ontario Tax Exemption for Commercialization program supports innovation in Ontario’s economoy by promoting intellectual property developed by eligible Canadian universities and colleges. The OTEC program applies to new corporations and offers an exemption from Ontario’s corporate income tax and corporate minimum tax for the first ten taxation years of the corporation applicant. Therefore, this program is not a grant or loan but a tax incentive type program.
Who is Eligible for this Canadian Tax Incentive?
There are several criteria that make a corporation eligible for this program.
To read the full, original article click on this link: Ontario Tax Exemption for Commercialization (OTEC)
Author: Bernadeen McLeod
